Korea Rolls Out Chuseok Food Discounts of Up to 64% to Tame Holiday Costs

South Korea’s government and the Nonghyup agricultural cooperative network are mounting a coordinated discount campaign to hold down household food costs ahead of the Chuseok holiday, with markdowns reaching 52% on hanwoo beef, 50% on government-stockpiled seafood, and as much as 64% on thousands of processed food items. The measures, announced on September 10 as part of the government’s Chuseok livelihood-stabilization package, target the categories that dominate holiday spending: fruit, meat, seafood, and pantry staples.

Beef and Pork Take the Deepest Cuts

The Ministry of Agriculture, Food and Rural Affairs is running its steepest promotion on hanwoo, Korea’s premium domestic beef and the centerpiece of many holiday tables. From September 12 through September 24, the ministry — together with the Hanwoo Board, Nonghyup Economic Holding, and the Korea Hanwoo Association — will discount hanwoo by up to 52% under the “So-prise” campaign. Domestic pork is included in the broader push, with combined government and Nonghyup support bringing discounts on hanwoo and han-don pork to as much as 50%.

Nonghyup Economic Holding, the business arm spun off from the National Agricultural Cooperative Federation in 2012, operates the retail and distribution subsidiaries that put these discounts in front of shoppers, which is why the cooperative sits at the center of nearly every strand of the campaign.

Half-Price Apples and Pears for Gift Sets

Nonghyup is separately discounting key agricultural and livestock products through its own outlets, cutting prices on apples and pears — the standard components of Chuseok gift sets and ancestral-rite tables — by up to half. Gift sets themselves are included in the promotion, an acknowledgment that holiday gifting is where fruit price spikes bite consumers hardest.

Stockpiled Seafood Enters the Market

On the seafood side, the Ministry of Oceans and Fisheries is releasing 22,000 tonnes of government-reserve fish to stabilize supply, sold at discounts of up to 50%. The ministry is also monitoring prices of major holiday seafood items daily through the run-up to Chuseok, a signal that it is prepared to adjust release volumes if specific items overheat.

Processed Foods Join at Unusual Scale

The most unusual element of this year’s package is its reach into processed foods. The agriculture ministry and food manufacturers will discount 4,765 items — including ramyeon and dumplings — by up to 64% before the holiday. Holiday price campaigns in Korea have traditionally centered on fresh produce and meat; extending them to branded shelf products at this scale reflects how much of the household grocery burden has shifted toward processed goods.

Why the Government Is Leaning In

Chuseok grocery demand is concentrated and price-inelastic: families buy the same fruit, beef, and seafood in the same two-week window regardless of price, which makes the holiday a recurring inflation flashpoint. By pairing direct fiscal discount support with Nonghyup’s retail network and voluntary manufacturer participation, the government is spreading the cost of price relief across public and private channels rather than relying on subsidies alone. The concentration of the campaign between September 12 and 24 means the effect on official price statistics should be visible almost immediately — and temporary, with prices likely to normalize once the holiday window closes.

By the Numbers